“We don’t interfere with the content,” Mr. Wang said during a question-and-answer session at the World Economic Forum in Davos, Switzerland. “I just want the profit.”
Mr. Wang, who runs closely held property and entertainment conglomerate Dalian Wanda Group, has come under scrutiny following his high-profile acquisitions of theater chain AMC Entertainment Holdings, film producer Legendary Entertainment and TV producer Dick Clark Productions, which stages the Golden Globes and other awards shows.
Members of Congress including incoming Senate Minority Leader Chuck Schumer (D-N.Y.) have called for increased congressional scrutiny of takeovers by U.S. companies by Wanda and other firms, citing concerns that the Chinese government might be driving the acquisitions in a bid to build its influence.
Mr. Wang said such oversight would be “a step back” and that there is no attempt by China to control Hollywood content.
“I’ve proven that with the purchase of U.S. cinemas,” he said. “They’re still showing U.S. films, there’s no change.”
Echoing President Xi Jinping’s earlier message to the global elite, Mr. Wang said that protectionism benefits no one and that Hollywood has benefited from its access to Chinese audiences.
“If China were to retaliate it’d be bad for both parties,” Mr. Wang said. “I do not wish to see that scenario materializing.”
Mr. Wang also reiterated his desire to buy one of Hollywood’s six major studios, while conceding “these six companies are not in the selling mood.”
“Let me just communicate that message,” he added. “I’d be a happy buyer.”
Source: Wall Street Journal by Dominique Fong
